Hartford Financial (HIG) NewsBite - HIG Downgraded By Citigroup

Posted: Tuesday, June 09, 2009 3:15 PM EDT

Hartford Financial (HIG) was downgraded today by analysts at Citigroup and the stock is now at $14.25, down $0.54 (-3.65%) on volume of 7,466,546 shares traded. The analysts reduced HIG to Hold from Buy. Over the last 52 weeks the stock has ranged from a low of $3.33 to a high of $73.89. Hartford Financial stock has been showing support around $14.13 and resistance in the $15.31 range. Technical indicators for the stock are neutral and S&P gives HIG a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on HIG the stock seems like it could be a candidate for a July out-of-the-money bear-call credit spread above the 17 range. [ABR-Seven Summits Strategic Investments NewsBite]

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